CHFSGD has formed a monthly hanging man on the resistance followed by weekly bearish engulfer with a daily head & shoulder and breakout from this daily head & shoulder with bearish engulfer.
On the opening of the new trading week, on the retracement, there could be a selling opportunity on the lower timeframe.
CHFSGD on the monthly has formed a hanging man with a lower high. It is a high probability that the price will bounce from the resistance with a lower high or with a false breakout which we could see daily bearish price action on the resistance.
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CHF/SGD is weak and we can expect it to continue it's bearish trend further below on the long term this next few weeks *as long as the 50 EMA holds as resistance on the daily timeframe.
It may make some pullbacks up but it is nothing to worry about as long as it never finds support. The reasonw why I leave my SL higher than the 50 EMA just in case.
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